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A fully secured loan of P30,000 was to be amortized by 10 equal semi-annual payments, the first payment to be made 6 months after the

A fully secured loan of P30,000 was to be amortized by 10 equal semi-annual payments, the first payment to be made 6 months after the loan is approved. After the 6th payment was made the debtor was in a position to settle the entire balance remaining by a single payment on that date. If the interest on the loan is 12% compounded semi-annually, what would be the amount of the single payment?

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